2011 Forecast: Local TV Ad Revs Drop 10%, Digital Climbs ...

From MediaDailyNews:

The absence of big Olympics and political advertising will pull down local TV advertising revenue almost 10% in 2011.

Local media research firm BIA/Kelsey is estimating that local TV advertising revenues will sink 9.8% to $17.4 billion, down from $19.4 billion in 2010. But online/digital revenues for local TV stations will climb 22% to $550 million.

2010 was the first year since 2006 that witnessed year-over-year gains -- improving 23.2% over 2009's deep recession-scarred performance, which pushed down local advertising revenues to $15.8 billion.

For the better part of two decades, TV stations have been subjected to two-year cycles: soaring gains from Olympics and political advertising dollars in one year, followed by declines with their absence the following year.